U.S. Bank Altitude Connect to Cut Annual Fee and Some Key Perks
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Major changes are coming to the U.S. Bank Altitude® Connect Visa Signature® Card, effective Sept. 9, 2024. Most notable: The card is eliminating its annual fee. However, a number of valuable perks will be discontinued or altered.
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What’s changing
Annual fee
The U.S. Bank Altitude® Connect Visa Signature® Card has been charging an annual fee of $0 intro for the first year, then $95. Going forward, the annual fee will be $0. This is a welcome change for anyone who prefers a rewards credit card with no annual fee.
Rewards earning
Cardholders will still earn 4 points per $1 spent at gas stations and electric vehicle charging stations — but beginning Sept. 9, 2024, there will be a $1,000 quarterly spending cap on the 4X rewards.
The card will continue to earn 2 points per $1 spent on dining and streaming services, as well as at grocery stores. However, discount stores, supercenters and wholesale clubs will be eliminated from the grocery store category.
Another U.S. Bank credit card will begin imposing a spending cap on its highest reward rate. Starting April 14, 2025, the 4x rate on dining on the U.S. Bank Altitude® Go Visa Signature® Card will only apply to the first $2,000 spent per quarter.
Rewards redemption
Previously, points were worth 1 cent each when redeemed in a variety of ways, including for statement credit. Going forward, though, the redemption rate for statement credit will drop to 0.8 cent per point. Points will still be worth 1 cent apiece when redeemed for travel or charitable donations, and when redeemed for cash back directly into an eligible U.S. Bank account.
Other benefits
The U.S. Bank Altitude® Connect Visa Signature® Card is dropping both its cell phone protection benefit and its $30 annual credit for streaming services.
However, U.S. Bank is adding a 100% match when you redeem points to make a charitable contribution.
Benefits going forward
Following the changes, the U.S. Bank Altitude® Connect Visa Signature® Card will earn:
5 points per $1 spent on prepaid hotels and car rentals booked through the Altitude Rewards Center.
4 points per $1 on travel.
4 points per $1 on gas and EV charging (with the $1,000 quarterly limit mentioned above).
2 points per $1 on dining.
2 points per $1 on streaming services.
2 points per $1 at grocery stores (with the exception of discount stores, supercenters and wholesale clubs).
1 point per $1 on other purchases.
The card will also continue to offer benefits including a statement credit of up to $100 for the application fee for TSA PreCheck or Global Entry, four free visits per year to Priority Pass airport lounges and travel protections.
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